And I know you don't understand that everything has some value (except for certain posters opinions on theses boards) and the value of something is determined by need, or desire. I very much want to buy an aircraft, but when I look at the total cost, it is simply too expensive to own outright. Fractional ownership is an option, but involves it's own set of headaches.....

So I keep the money instead of buying an aircraft. That is an objective approach to the use of my money. Nothing "subjective" about it...

It is difficult to cooperate with a competitor, especially when you do not have the ability to communicate with the competitor. The fundamental law of economics dictates that increased demand for a scarce resource, in this case the deer, will cause the price for the resource to increase if the supply does not increase with the demand. Isn't the brear's desire to eat the deer a form of demand for the deer? If so, then the bear has increased the value you ascribe to the deer.

Trading with the bear could actually permit you to obtain a fraction of the bear at a lower cost, benefitting both you and the bear. But the lack of communication makes that very unlikely.

quote:Subjective versus objective. When some one makes a judgment call, as it were, they are speaking subjectively. When someone renders a decision based on an observable fact, they are speaking objectively. A subjective interpretation is just that: a filtering through of facts through one's own thoughts or feelings. An objective interpretation leans heavily towards unbiased reportage

quote:But my scenario isn't affected by his scenario. Say all living things die off

Your response is just so terse, and I am in a sort of silly mood tonight. Value is determined solely by demand. I have no choice but to agree that without anything living to demand something that something has no value. But you could have used a more entertaining example, like the demand for Tulane football tickets. Nobody wants them so you can get them for dirt cheap.

re: First Bitcoin ATM heading to CyprusPosted by MOT on 3/25/13 at 8:46 pm to WikiTiger

I've followed these arguments for several weeks now. I know where the participating posters stand on the issue and some of the reasons why. But I don't think I know enough about the fundamentals to form an opinion.

re: First Bitcoin ATM heading to CyprusPosted by WikiTiger on 3/25/13 at 8:49 pm to MOT

quote:I've followed these arguments for several weeks now. I know where the participating posters stand on the issue and some of the reasons why. But I don't think I know enough about the fundamentals to form an opinion.

What are the best sites to learn about bitcoin?

It depends on what you are asking. Do you really want to dig into the guts of the thing and understand the cryptography, the decentralized nature of it, how mining is done, etc. etc.

Or do you just want to understand the basics of how to acquire bitcoins, how to send and receive them, how to protect them, etc?

Either way, you should at least check out my Ultimate Bitcoin thread and if you still have any questions, then ask them in that thread and I'll answer them.